https://www.taxtmi.com/caselaws?id=22748 The court held that depreciation should be allowed as a deduction in computing business income assessed to tax, even if not admissible as expenditure in working out the deficiency under section 44A of the Income-tax Act. The court emphasized that where assets on which depreciation is claimed are used for business generating income, depreciation must be allowed. The Tribunal's decision disallowing depreciation as expenditure under section 44A was overturned in favor of the assessee. en-us Mon, 26 Jun 1989 00:00:00 +0530 Sat, 12 Dec 2009 16:47:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22748 The court held that depreciation should be allowed as a deduction in computing business income assessed to tax, even if not admissible as expenditure in working out the deficiency under section 44A of the Income-tax Act. The court emphasized that where assets on which depreciation is claimed are used for business generating income, depreciation must be allowed. The Tribunal's decision disallowing depreciation as expenditure under section 44A was overturned in favor of the assessee. Case-Laws Income Tax Mon, 26 Jun 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22748